Ranking of exponential vague sets with an application to decision making problems

Abstract

The main aim of this paper is to propose a new approach for the ranking of exponential vague sets. The concepts of exponential vague sets and arithmetic operations between two exponential vague sets are introduced. The shortcomings of some existing ranking approaches for the ranking of generalized fuzzy sets and intuitionistic fuzzy numbers are pointed out. The proposed method consider not only the rank but also the decision maker optimistic attitude and it is shown that proposed ranking approach is more intuitive and reasonable as compared to existing ranking approaches. Also the proposed ranking function satisfies the reasonable properties for the ordering of fuzzy quantity. For practical use, proposed ranking approach is applied to decision making problem.